Profile picture of Youchang Wu

Youchang Wu

Associate Professor of Finance | John B. Rogers Research Scholar | Coordinator, Finance PhD Program

Affiliations: Finance, Cameron Center for Finance and Securities Analysis, Master of Science in Finance
ywu2@uoregon.edu
Phone: 541-346-5126
Office: Lillis 377
Website
Research Website
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About

Biography:

Youchang Wu is an associate professor of finance, John B. Rogers Research Scholar, and finance PhD program coordinator at the Lundquist College of Business. His areas of expertise include delegated portfolio management, institutional investors, financial advice, corporate finance, and production networks. His research has been published in leading journals including Journal of Finance, Review of Financial Studies, Journal of Financial Economics, Review of Finance, Management Science, and Journal of Corporate Finance. He has also coauthored a popular textbook on money and banking in Chinese with Dr. Gang Yi.

Professor Wu received his doctorate in finance from the University of Vienna, master and bachelor degrees in economics from Peking University. Prior to joining the Lundquist College, he was an assistant professor at the University of Wisconsin-Madison. He has also taught at the University of Vienna and Peking University, and worked as an IPA Financial Economist at the United States Securities and Exchange Commission.

Degree History:
  • PhD, Finance, University of Vienna
  • Master, Economics, Peking University
  • Bachelor, Economics, Peking University
Previous Positions:
  • IPA Financial Economist, U.S. Securities and Exchange Commission
  • Assistant Professor, University of Wisconsin-Madison
  • University Assistant, University of Vienna
  • Junior Faculty Member, Peking University
Professional Leadership:
  • Associate Editor, China Finance Review International, 2021–current
  • Guest Editor, Pacific Basin Finance Journal, 2020–2022
Honors and Awards:
  • Engelbert Dockner Fellowship, 2023
  • Consumer Protection Research Grant, School of Law, University of Oregon, 2023
  • Dave Petrone Financial Literacy and Wellness Research Award, University of Oregon, 2022
  • Dean's College Service Award, Lundquist College of Business, University of Oregon, 2022
  • Modern Risk Society Contribution Award, 2021
  • Modern Risk Society Rearch Paper Award, 2019
  • Honored Instructor Award, University of Wisconsin-Madison, 2013
  • Graduate School Research Competition Award, University of Wisconsin-Madison, 2008, 2011, 2012
  • First place, Best Paper Award, China Finance Review International Conference, 2010
  • Outstanding Paper Award, Center for Financial Research, University of Cologne, 2008
  • First place, Best Paper Award, The China Finance Association, 2007
  • SWX Best Paper Award, Swiss Society for Financial Market Research, 2005

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Areas of Expertise

  • Institutional investors
  • Corporate finance
  • Production networks

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Current Projects

  • "Private Equity and Gas Emissions: Evidence from Electric Power Plants," with Xuanyu Bai
  • "Private Equity and Financial Adviser Misconduct," with Albert Sheen and Yuwen Yuan
  • "Size and Investment Performance: Defined Benefit vs. Defined Contribution Pension Plans," with Donghyeok Jang
  • "Uncertainty and the Beta Anomaly," with Zhiqi Cao and Wenfeng Wu
  • "Import Competition and Labor Share," with Xi Li and Wensong Zhong
  • "Mutual Funds Apart from the Crowd," with Nadia Vozlyublennaia
  • "Political Preferences and Financial Market Equilibrium," with Josef Zechner

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Publications

Journal Articles:

Huang, Chien-Yu, Youchang Wu, Yibai Yang, and Zhijie Zheng. "Monetary Policy in a Schumpeterian Growth Model with Vertical R&D Sectors." Journal of Money, Credit and Banking 55, no. 6: 1569-1607. https://doi.org/10.1111/jmcb.12929.

September 2023

Gofman, Michael, and Youchang Wu. "Trade Credit and Profitability in Production Networks." Journal of Financial Economics 143, no. 1: 593-618. https://doi.org/10.1016/j.jfineco.2021.05.054.

January 2022

Levine, Oliver, and Youchang Wu. "Asset Volatility and Capital Structure: Evidence from Corporate Mergers." Management Science 67, no. 5: 2657-3320. https://doi.org/10.1287/mnsc.2020.3607.

May 2021
April 2021

Gofman, Michael, Gill Segal, and Youchang Wu. "Production Networks and Stock Returns: The Role of Vertical Creative Destruction." Review of Financial Studies 33, no. 12: 5856-5905. https://doi.org/10.1093/rfs/hhaa034.

December 2020

Ma, Liang, Antonio S. Mello, and Youchang Wu. "First Mover Advantage, Time to Finance, and Cash Holdings." Journal of Corporate Finance 62. https://doi.org/10.1016/j.jcorpfin.2020.101584.

June 2020

Wu, Youchang, Russ Wermers, and Josef Zechner. "Managerial Rents vs. Shareholder Value in Delegated Portfolio Management: The Case of Closed-End Funds." Review of Financial Studies 29, no. 12: 3428-3470. https://doi.org/10.1093/rfs/hhw065.

December 2016

Dangl, Thomas, and Youchang Wu. "Corporate Investment over the Business Cycle." Review of Finance 20, no. 1: 337-371. https://doi.org/10.1093/rof/rfv003.

March 2016

Brown, David P., and Youchang Wu. "Mutual Fund Flows and Cross-Fund Learning Within Families." Journal of Finance 71, no. 1: 383-424. https://doi.org/10.1111/jofi.12263.

February 2016

Stoughton, Neal M., Youchang Wu, and Josef Zechner. "Intermediated Investment Management." Journal of Finance 66, no. 3: 947-980. https://doi.org/10.1111/j.1540-6261.2011.01656.x.

June 2011

Dangl, Thomas, Youchang Wu, and Josef Zechner. "Market Discipline and Internal Governance in the Mutual Fund Industry." Review of Financial Studies 21, no. 5: 2307-2343. https://doi.org/10.1093/rfs/hhl031.

September 2008
Book Chapter:

Wu, Youchang. "Carbon Footprint of Private Equity." In The Palgrave Encyclopedia of Private Equity, edited by Douglas Cumming and Benjamin Hammer. London: Palgrave Macmillan. https://doi.org/10.1007/978-3-030-38738-9_95-1.

September 2023

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In the News

Simple digital art design of people, shapes, and objects
Awarding Financial Wellness Research
Four awardees earned special funding to continue and expand the study of financial literacy and wellness.
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Analyzing Trade Credit
Finance professor Youchang Wu and coauthor examined supplier-customer relationships to better understand trade credit.
Named Appointments in white text against a blue background
Stepping Up: 2018 Faculty Promotions

In preparation for the upcoming 2018-2019 school year, the Lundquist College of Business is proud to announce its upcoming faculty promotions and named appointments.

Leaders in Finance Education
Leaders in Finance Education

When it comes to finance, the Lundquist College has much to quack about of late. Read some of its recent activities and achievements.

New Faculty 2015
We are pleased to welcome to the college seven new tenure-track faculty members who bring a wealth of expertise from around the world.

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